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Big Oil execs, high-paid athletes should pay more

The Lowell Sun

Updated:
03/18/2014 12:13:41 PM EDT

The powers that be in the oil industry have had their economists project growth in the worldwide economy. Overall it looks like growth, which means more money in your pocket. Good, right? Now these powers ask themselves how do we get more out of this upturn?

It's easy. Just raise the price of gas. The people need it at whatever the cost to get to work, school or on vacation. Prime in the Merrimack and Hudson N.H. has gone from $3.17 a gallon about three weeks ago to $3.41 a gallon.

In that same period Hess in Billerica has gone from $3.29 a gallon to $3.49.

In 2013 the five big oil companies collectively reported $93 billion in profits and are fighting to keep certain tax benefits that you and I do not have. The chief executive officers for the Big Five were paid $95 million collectively, or an average of $19 million each.

It's about time the federal government step in and set the gas prices to stop the gouging. Also an income tax rate schedule should be developed to collect higher taxes from over- paid individuals, such as sports stars and CEOs.

During the 1940s income over a certain amount was taxed at 90 percent. Since the country is in deep debt, I could support these changes.

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